Bitcoin Forum

How low do you think Bitcoin is going to go before it starts climbing back up again? Is this it? Is this the end of Bitcoin?

Assuming it goes back up, what do you think the lowest we can get it at?

It is at a 28% decrease from last week? That is pretty bad.

Chinese exchanges closing= more bitcoin for everyone else. The price will keep decreasing to around $3000 before surging again when the rest of the world creates a new bull run.

I think it's because of Chinese and Chase Morgan CEO declaration. It's not the first time. Bitcoin always rises again.

Just a normal 28% decrease and people start asking "is this the end?".Don`t focus that much on the bitcoin price.Focus on solutions making bitcoin more newbie-friendly and helping mass bitcoin adoption.
By the way,that 28% decrease is mostly because of the  newbies and panic selling.
There were other bad news from China and the price didn`t went down that much.

just remember that it already happen! back in 2013 there was an ath above 1000usd (first time) than a big crash or correction (name as you like) back to 300usd (i don't remember the exact numbers). then what happen? a lot buy in, the media was silent, three years pass and in 2017 we are to ath x4 respect 2013. this time is going to happen again but we sure are not going to 300usd, i don't know the new floor but sure is higer than the former, and the new ath will be the same, so don't worry, take a drink, have a sit and wait for better times!

I totally agree with them ^ bitcoin will climb back up. its just a lot of panic sell.

Everyone is worrying as if this would be bitcoin's final run. Smart people sees this as a golden opportunity to get a good entry point so that they could hold more bitcoins to their stash for future bull runs. Bitcoin gaining 400% in a short span of time, no one bats an eye; bitcoin losing 28% of its value in a week and everyone loses their minds.

Well i guess the government of china really believe that btc if just a fraud, but there are a lot of other countries that really think btc can help the economy. The main issue is just how to regulate it without having some unlinked organization using it against them. I do believe that btc would still go up but its gonna be a lot of pressure and to be honest they need more support from other users for it to at least go up. Right now its now on pumping it again but rather make it survive again.

It's clear from the current bitcoin price movements looks such as bitcoin to be weaken and helpless. But i don't think bitcoin will continuesly to sink and then the price is so more down to the bottom. I'm sure this is only temporary, and bitcoin prices will rising again in the next month. Obviously i think bitcoin will be going back to its glory i guess, bitcoin will be never die just caused of the incident in China.

Remember the 4 months halt of bitcoin withdraw in Chinese exchanges? What does it change in the end? Nothing.

If all chinese exchange will be closed, people will go out side or go decentralize. that's all.

it'll sink alot more. its not over till 30th september the close date for chinese exchanges. expect a major haemorrage followed by a slow bleed up till 23rd. maybe a ladt min final hit then stabalise. maybe all the way to $2k? just guessing. i think it'll eventually recover but we are talking slow growth like after gox.

china exits and the rest of the world that doesnt ban exchanges has their share redistributed.

also with price dump miners become more unprofitable so hash drops and adapts.

bitcoin will survive. it'll just lose its china dependence which is a good thing. how low? who knows. im not panicing until it hits my buy in of $320 a coin.

I think $3k will hold, a drop like this is the real test for bitcoin holders. i bought a few bits, the price will go up eventually! ;D  
panic sellers always lose! i'm holding are you?

Bitcoin was dead after mtgox already...

We don't know when it will be back but there's no definite time on when it will return to its glory. Think about it, we did see the price to get up to fast and this is why the price gets down quickly too.


Of course no, it's not that end for bitcoin many are still believing on this coin and why there's a doubt coming from you.

It survive for so many years so don't think about it's end.


$4,000 is the possible new floor price.

bitcoin glory is its adoption and usage as a currency not its price and that has been increasing day by day. unfortunately the price is also an important part of bitcoin and because of how bitcoin exchanges work and because of the type of investors in bitcoin, the price can be easily manipulated like this.

the market is small and full of newbies who create the weak hands. certain people just keep getting richer using these newbies.

If Chinese exchanges are closing at the end of the month, you can expect lower prices until then at least.
There is the looming 2x part of Segwit2x coming up in November.  Everyone signed up to Segwit2x, but now that they have Segwit, they don't seem to be so keen on the 2x bit anymore (even though Segwit hasn't really increased the blockchain capacity much at all).

So that means there will either be a 2nd hard fork, or no hard fork but a big disagreement about people signing up to the New York agreement, but not carrying through with it.

It could be a rocky ride in the next months. I would expect a bounce after the Chinese exchanges close, and everyone realises that it isn't a very big deal, but I think $5000 won't be reached as that was a bridge too far anyway.

Man this is impossible to answer accurately.
The market is going crazy right now.
We may be able to hold this range until some news comes out, or we may go down way more than anybody expects!!
We have to wait and see.That's all you can do.
If you're in this game for some time, you will have strongs hands if you haven't sold. No reason to sell now.
If you got some fiat and wanna buy, this is the time you may start to layer in.

Bitcoin will fall until everyone on this forum is disillusioned and ready to get out, then it has scope to rise.

Why would anyone buy now? China has only STARTED to close small exchanges, they will be shutting down the rest soon.
After that they will release official statements some weeks from now, hammering the price down even more.
Other countries will follow China's ban, as we're already seeing.
If that doesn't cut current price more than in half, you can bet the November hard fork will do it for us.
This is no time to buy. Unless you like to lose money. Buy back range is 600-800 USD, if it holds.

This week is not for buying week, the fall isn't over there are more to come. But still will not sell it since I already lose thousands due to this fal, will hold it until it gives back whats mine even it takes years.

The result will be known for this few days, but this week and next week will be hell, the price will drop down like crazy and the peak will be near the end of september, it is very hard to predict when will be recover since everything still in unsure and unstable condition, i hope it can go back to its top condition soon, because the price is looking so bad

Well yeah and it is still dropping.

Currently it is just above $3000 and barely.

Personally i do think that it's probably going to go down even more from this point. However, we shuold see some sort of recovery to at least $3.5k+ from now. $4k+ is possible but seems unlikely at this point in time. After that, we could potentially see price drop further. Bubble has popped imo.

Nobody uses bitcoin as currency, all investors come to make profit from rising price, it's just a digital era ponzi where early adopters have natural incentive to up the hype.

No, this is not the end of a bitcoin, it will quickly come back in time to come. Due to the extraordinary growth, many people have started to doubt bitcoin, in addition, some other factors, governments and other powerful people also cause great impact. As soon as it's over, the bitcoin will go up.

There is no specific limit to go deep down but whenever you think that it’s the least price and it’s the time to climbing up you should not waste the chance and buy as much as you can before the its starts climbing up. If price of bitcoin increases, then it will be quite harder for you to buy it.

It was indeed a pretty big decline that we've seen last week.

This week seems to be a new start for bitcoin. Currently price is already up to around $4000, and still pushing upwards as we speak. I'm not sure though whether this is a bull trap or not, if not then bitcoin can easily go to $5k or more and return to its "former glory".

Just be careful buying in, as i said it could potentially be a bull trap. News from China have not changed if i'm correct so BTCChina is still closing down.

Well this is totally false because can you prove what is ponzi here. By the way it seems you do not know what is the meaning of Ponzi. How come bitcoin is Ponzi? Yes you might be frustrated by it because you would have definitely not invested early and now with the price rise you have missed the opportunity and this is causing a lot of problem to you it seems.

Definitely not the end of bitcoin. End of bitcoin would only really ever come if the entire network was shut down, and this will probably never happen in our lifetimes at least because there is no single point of failure.

This was just a short term adjustment in price.

Mainly caused by Chinese FUD. We are currently on the verge of a full recovery. In fact, i think that the price will likely go up further this month and this bull trend will be sustained.

Bitcoin has not even come close to its glory days. We are still a child in the world of global finance. Compare the market capitalisation of Bitcoin and that of gold. In another few years, we will all have a good laugh at China's actions.

I don't agree with that, Bitcoin has never lost its glory. The price is maybe not at the highest level but the price is not the only thing about Bitcoin and again volatility is normal process that everyone should accept and count on it. So, Bitcoin price will always go up and down, nothing strange about it.

It may be next year before we see Bitcoin fully recover. I would not be surprised if the price of Bitcoin went through a period of volatility in a trading range before it starts to move up more. A trading range between $3000 and $4000 for a few months or even a year would not surprise me after the big increase and now with the news from China. I'm confident though that Bitcoin and all major cryptocurrencies will recover and continue up and reach new highs.

as for today as you can see bitcoin is recovering and slowly getting back to his throne and soon will rule again the world of cryptocurrency.  i also personally think that the price drop is over and its time for a new season after the china crisis  bitcoin will still be the king and wont be dead without china. oh hail the great bitcoin.

The FUD has caused the selloff and currently we are recovering.

Even though we are going up right now i think that we can still expect some dips along the way that would make pretty nice buying opportunities. How low they will be is unknown but i think around $3300-3500.

By next month we should be looking at $4500+ prices consistently again, as this bull market continues.

By November the bitcoin becomes more glorious. By the upcoming splitting an price dump can be expected and the same will soon take the price higher to cross $6000. Price sink is something common with bitcoin and the same gets overcomed in a short. So, its our goodness to have trust and start using it.

When bitcoin abandoned its glory? Bitcoin is as great as ever, the price got lower in the last days but we have seen how easily bitcoin recovered from that, people are very impatient, I would understand a post like this if bitcoin lose value for months and there was doubts if we were going to see prices as high as we have seen ever again, but creating a topic just a few days after the fact and to think bitcoin is going to die is a mistake.